The expression 10,785(1.0275)x represents the amount of money in an investment account with interest that compounds annually for x years. Interpret the meaning of the expression.
2 answers:
E
According to the question,
The amount of investment money is $10,785 and the rate of interest is 1.0275%. The amount of money will be multiplied with the rate of interest and the year.
To get future value of the investment it will be like
FV = PV(1+i)x
Therefore , Future value = 10,785(1.0275)x
Answer:
The answer is E, initial investment $10785. Growth rate 2.75%
Explanation:
Right on
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